Orlando home sales in October 2009 were up 79.64 percent over October 2008; year-to-date sales were up 54.72 percent.
"Normal" sales made up 37.53 percent of sales in October, while 62.47 percent of sales were either bank-owned or short sales. There are currently 9,050 pending sales, of which 3,864 were filed in October (the most in a single month this year).There were 3,316 pending sales in October 2008.
Condo sales increased 236.89 percent in October. Duplex, town home, and villa sales increased by 82.52 compared to October 2008.
The median price of all existing homes sold in October 2009 increased 4.00 percent (to $130,000) when compared to September 2009 ($125,000) and decreased 25.99 percent compared to October 2008 ($175,650).
The median price for "normal" sales in October was $178,910; the median for bank-owned sales was $79,900; and the median price for short sales was $125,000.
Affordability declined to 196.02 percent in October; first-time affordability decreased to 139.39 percent.
The inventory level decreased during the month of October by 224 homes to 15,743, and is currently 36.15 percent lower than October 2008. There is a 7.14-month of supply.
Short sales, Bank Owned/Foreclosures seem to be stabilizing as it relates to this data. If a short sale actually has a bank approved price then you should consider it. If not, you better have patience and you still may end up with nothing to show for your efforts. I have a short sale designation, CSP, if you need help selling or buying call me ..
Contact me or visit my website www.TeresaParker.com for help in your home search.
A native of Orlando and voted one of Orlando's top 100 Realtors let me help you through this challenging market. There are so many options to choose from and you need an expert to assist you. www.TeresaParker.com or email me at parkertjm@aol.com
ZIP Code: 32827 Approximate Location Boundaries: LAKE NONA
Location Characteristics: Lake Nona is a beautifully desigend 7,000 acre master-planned community within the city limits of Orlando Florida that will be home to world-class education and recreational facilities, a Science & Technology Park, diverse workspaces, retail centers, entertainment choices and residetnial options for all types of people seeking the very best the city has to offer...It is the area where the most growth is expected in the Orlando Real Estate market....
About Teresa Parker:
* Accredited Luxury Homes Specialist (ALHS) * Over twenty successful years in sales and client relationship management resulting in long term customer loyalty. * Born and raised in Central Florida * Multi-million dollar producer * I will make buying and/or selling your home a positive experience by ensuring a professionally handled transaction * Your home will be showcased by utilizing "Virtual Tours" technology viewed by over 60 million potential buyers * Full time real estate professional specializing in Lake Mary, Heathrow, Lake Forest, Longwood, Sanford, Orlando, and Winter Park * Ongoing educational training in real estate, computer technology, and financial management * Member of the Orlando Regional Realtor Association.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
